WOOL SALES

Evening Post, Volume LXXXIV, Issue 139, 9 December 1912, Page 7

WOOL SALES

WIDE EXPANSION IN TRADE. AMERICAN MILLS BUSY. ' By Tel«|r»pt.— Preii Association.— Copyright, (Received December 9, &.45 a.m.) LONDON, Bth December. Reports from the principal manufacturing centres indicate a wide expansion in, the woollen trade. There is a fear of scarcity of wool after March, which is also contributing to the buying movement. The mills are busily employed in America, where foreign wools, especially cross-breds, are likely to be in good demand. WELL-SUSTAINED COMPETITION. LONDON, Bth December. The wool sales have closed with wellsustained competition. The opening rates were fairly Well maintained except average top-making. Wasty and greasies showed a slight decline. Good scoureds remained at October rates, and faulty scoureds advanced 10 per cent. Crossbreds showed a similar advance. Scoureds and slips, 5 to 7£ per cent, higher. HIGH COMMISSIONER'S REPORT. The Department of Agriculture, Industries, and Commerce has received the following cablegram from' the High Commissioner for New Zealand, dated London, 7th December, 1912, regarding the closing of the fifth series of colonial wool sales: "The market closed very strong. There is good competition. Indications are favourable for a continuance of the present prices. Five hundred bales of New Zealand wools are held over. Estimated Value — superior merino, Is Id to Is 3^d per lb; medium, lid to 3s Id; inferior, 9d to lO^d. Fine crossbreds, Is Id to Is 3£d; medium, 'lid to Is l£dj coarse, 9£d to Is Id." The Bank of New Zealand has received the following cable advice from its London office, dated 7th inst.: "The sales have closed very firm, and the prospects are good. There is an active demand by all branches of the trade." Messrs. Murray, Roberts and Co. have received the folJowing cablegram from their London friends, Messrs. Sanderson, Murray and Co., dated 7th inst.: " Sales have closed firm, 2000 bales held over. Compared with highest point during the sales the market shows no change for scoured merino, faulty or inferior, or medium. Other descriptions of merino have declined a shade, market being irregular. Compared with opening rates, crossbred market shows no material change." The Now Zealand Loan and Mercantile Agency Company, Ltd. and Reduced, has received the following cablegram from its' London house, under date 7th inst. : "The sales closed strong. Ninetyfive thousand bales of wool were sold at the wool sales, of which 47.000 bales were taken for the Continent and 1000 bales for America, ; 2000 bales were held over. As compared with last sales' closing rates, prices are lngner about 5 per cent._ to 7^ per cent, for greasy merino medium, coarse scoured crossbred, greasy merino inferior, and medium scoured crossbred." Dalgety and Co., Ltd., Wellington, have been advised by cable from their London office, under date 7th inst,, as follows: "Wood sales closed firm and active, with brisk competition. As compared with tho closing -ates of last series, good to super, scoured merino 2£ per cent, to 5 per cent, higher, medium and inferior sorts 7£- per cent, higher; for greasy merino combing, price 5 per cent, to 7£ per cent, higher: short wools, 2£ per cent, to 5 per cent! higher; for heavy, earthy, ajid wasty wool, 2^ per cent, to 5 per cent, higher ; merino pieces, bellies, and locks, greasy, 7^ per cent, higher; crossbred wools, fine 5 per cent, higher, medium and coarse 10 per cent, higher. Tho total net quantity available amounted to 100,000 bales; 1000 bales were sold to America, 50,000 for home consumption, 47,000 to the Continent, and 2000 were carried forward. " Sheepskins.— The first sale for 1913 is on 6th February."